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Corporación América Buying Batista's Stake in SIX

Argentine Firm Buying 33% Stake in SIX Semicondutores

By

Luciana Magalhaes

Updated Jan. 13, 2014 8:19 p.m. ET

BELO HORIZONTE, Brazil—Argentine billionaire Eduardo Eurnekian is stepping in to put wind back into the sails of a billion-dollar semiconductor project in Brazil, originally a joint effort by the Brazilian government and entrepreneur Eike Batista.

Mr. Eurnekian's holding company, Corporación América, reached a deal to buy Mr. Batista's 33% stake in SIX Semicondutores, which is building Brazil's first semiconductor plant, according to the Minas Gerais state government, which is also an investor. Other partners include...